Credit Suisse Maintains Their Buy Rating on BNY Mellon (BK)

In a report released yesterday, Susan Roth Katzke from Credit Suisse maintained a Buy rating on BNY Mellon (BKResearch Report), with a price target of $44.00. The company’s shares closed last Friday at $37.30.

According to TipRanks.com, Katzke is a 5-star analyst with an average return of 13.1% and a 68.9% success rate. Katzke covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., First Republic Bank, and Goldman Sachs Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BNY Mellon with a $42.38 average price target, a 13.1% upside from current levels. In a report issued on April 1, KBW also upgraded the stock to Buy with a $49.00 price target.

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Based on BNY Mellon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.67 billion and net profit of $1.44 billion. In comparison, last year the company earned revenue of $3.91 billion and had a net profit of $881 million.

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the Investment Services and Investment Management segments. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange. The Investment Management segment provides services to institutional and retail investors, as well as investment management, wealth and estate planning. The company was founded by Alexander Hamilton on June 9, 1784 and is headquartered in New York, NY.